Triaconta Weekly #171

The following topics will be addressed in this weekly.

  • Bundles performance
  • Winners & losers
  • Market overview

Bundle performance
All bundles positive for the week and Defi is in demand. While the crypto market is gently sliding sideways, the quarter starts well for Compound (+36%), Aave (+14%) and Maker (+16%), for example.

Big 3:
1 Month: -18.25% | 7D: +1.88% | 24H: -1.30%

Top 30:
1 Month: -27.07% | 7D: +3.28% | 24H: -2.07%

1 Month: -33.00% | 7D : +2.89% | 24H: -1.06%

1 Month: -37.55% | 7D: +6.84% | 24H: -4.59%

Winners & losers
Compound (+36%) wins the most this week. Followed by Ethereum Classic (+27%), Decred (+22%), Maker (+16%) and Qtum (+15%). Small losses this week for The Graph (-6%) and Polygon (-5%). No party for Binance coin (-4%) that turns 4 today. Nano (-4%) and Dogecoin (-5%) are also trading slightly lower.

Market overview
AZ becomes the first Dutch football club to put Bitcoin on its balance sheet and pay player salaries partly in Bitcoin. For commercial director Michael Koster, the appeal of Bitcoin and crypto is undeniable, hence the club’s decision to adopt BTC. “The cryptocurrency market is booming, with an exponential growth of users in recent years.”

According to the new German fund allocation law, “Spezialfonds” are allowed to invest up to 20% of their assets in crypto from 1 July. The “Spezialfonds” is the most common institutional form of investment in Germany. The law potentially unlocks €350 billion for cryptocurrency investments, according to the Boersen Zeitung, and could have profound implications for cryptocurrency prices and fund returns.

In India, where traditionally most people invest in gold, crypto has grown in popularity. Holdings grew from 200 million to 40 billion in the past year. This is already about 2.5% of what households collectively own in gold. The growth in India is mainly coming from the 18-35 age group, says the co-founder of India’s first cryptocurrency exchange.

Q2 2021 unfortunately turned out to be Bitcoin’s worst quarter since Q4 2018, which incidentally marked the end of the previous bear market. Glassnode blockchain analysis still points to more accumulation by long-term holders of Bitcoin. They take advantage of the low price during this period to collect more Bitcoin.

The percentage of Ethereum held on exchanges has fallen below 18%, the lowest percentage since November 2018. The risk of a future major sell-off of Ethereum has dropped significantly as a result.

More savers in the Netherlands are faced with negative interest rates. From 1 July you pay 0.5 percent negative interest on savings from EUR 100,000 (ING, Volksbank, Rabobank) or EUR 150,000 (ABN AMRO). At Triaconta you pay nothing for the safe storage of your crypto and credits.